BlackRock Asset Management Canada Limited ("BlackRock Canada"), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE:BLK), today announced the estimated 2016 annual reinvested capital gains distributions for the iShares ETFs listed on the Toronto Stock Exchange. Please note that theseare estimated capital gains amounts only, as of October 14, 2016. As these are estimated amounts, the final capital gains distributions may change by the Funds' December 15, 2016 tax year-end.

These estimates are for the annual non-cash capital gains distributions, which are typically reinvested in additional units of the respective funds at the year-end, and do not include estimates of ongoing periodical (e.g. monthly, quarterly, semi-annually or annual) cash distribution amounts. The additional units will be immediately consolidated with the previously outstanding units such that the number of outstanding units following the distribution will equal the number of units outstanding prior to the distribution.

We expect to announce the final annual reinvested distribution amounts, as well as the ongoing cash distribution amounts, as applicable, for 2016, on or about December 18, 2016. The record date for the 2016 annual distributions will be December 31, 2016, payable on January 5, 2017. The actual taxable amounts of reinvested and cash distributions for 2016, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or "CDS") in early 2017.

Fund Name

Fund
Ticker

Net asset value (NAV) per unit at Nov 15, 2016

Estimated annual reinvested capital gains as % of NAV at Nov 15, 2016

iShares Balanced Income CorePortfolio™ Index ETF

CBD

21.345812

0.00

%

CBD.A

21.238306

0.00

%

iShares 1-10 Year Laddered Corporate Bond Index ETF

CBH

19.485183

0.00

%

CBH.A

19.397741

0.00

%

iShares Balanced Growth CorePortfolio™ Index ETF

CBN

18.945288

0.51

%

CBN.A

19.112166

3.56

%

iShares 1-5 Year Laddered Corporate Bond Index ETF

CBO

19.008400

0.00

%

CBO.A

18.935017

0.00

%

iShares BRIC Index ETF

CBQ

19.374390

0.00

%

CBQ.A

19.301781

0.00

%

iShares S&P/TSX Canadian Dividend Aristocrats Index ETF

CDZ

25.028432

0.00

%

CDZ.A

24.865060

0.00

%

iShares Equal Weight Banc & Lifeco ETF

CEW

11.453461

1.29

%

CEW.A

8.559917

0.00

%

iShares Gold Bullion ETF

CGL

10.740169

0.00

%

CGL.C

14.593780

0.00

%

iShares Global Real Estate Index ETF

CGR

27.679416

1.23

%

CGR.A

27.466375

5.93

%

iShares U.S. High Yield Fixed Income Index ETF (CAD-Hedged)

CHB

18.758510

0.00

%

CHB.A

18.693305

0.00

%

iShares International Fundamental Index ETF

CIE

17.646954

2.68

%

CIE.A

17.620180

1.75

%

iShares Global Infrastructure Index ETF

CIF

24.842007

0.00

%

CIF.A

24.821688

0.00

%

iShares Japan Fundamental Index ETF (CAD-Hedged)

CJP

12.997207

0.00

%

CJP.A

12.694350

0.00

%

iShares 1-5 Year Laddered Government Bond Index ETF

CLF

18.687756

0.00

%

CLF.A

18.588288

0.00

%

iShares 1-10 Year Laddered Government Bond Index ETF

CLG

19.251858

0.07

%

CLG.A

19.122364

0.12

%

iShares US Fundamental Index ETF

CLU

28.882212

12.02

%

CLU.A

28.589895

12.29

%

CLU.B

32.463238

11.47

%

CLU.C

32.763606

0.08

%

iShares Premium Money Market ETF

CMR

50.011562

0.00

%

CMR.A

50.004657

0.00

%

iShares Global Agriculture Index ETF

COW

35.386394

3.80

%

COW.A

34.390499

3.94

%

iShares S&P/TSX Canadian Preferred Share Index ETF

CPD

12.882794

0.00

%

CPD.A

12.857629

0.00

%

iShares Canadian Fundamental Index ETF

CRQ

14.678560

0.41

%

CRQ.A

14.608467

0.00

%

iShares Short Duration High Income ETF (CAD-Hedged)

CSD

18.267951

0.00

%

CSD.A

18.204476

0.00

%

iShares US Dividend Growers Index ETF (CAD-Hedged)

CUD

35.993096

5.91

%

CUD.A

35.744445

3.92

%

iShares Convertible Bond Index ETF

CVD

18.687639

0.00

%

CVD.A

18.637311

0.00

%

iShares Emerging Markets Fundamental Index ETF

CWO

30.957441

0.00

%

CWO.A

30.811695

0.00

%

iShares Global Water Index ETF

CWW

29.071378

0.00

%

CWW.A

28.910106

0.00

%

iShares Global Monthly Dividend Index ETF (CAD-Hedged)

CYH

17.816229

0.00

%

CYH.A

17.669132

0.00

%

iShares Canadian Financial Monthly Income ETF

FIE

6.903574

0.00

%

FIE.A

6.401577

0.00

%

iShares Silver Bullion ETF

SVR

9.493640

0.00

%

SVR.C

9.164306

0.00

%

iShares Alternatives Completion Portfolio Builder Fund

XAL

27.404606

0.00

%

iShares Core MSCI All Country World ex Canada Index ETF

XAW

21.433740

0.06

%

iShares Canadian Universe Bond Index ETF

XBB

31.383183

0.11

%

iShares S&P/TSX Global Base Metals Index ETF

XBM

11.859796

0.00

%

iShares MSCI Brazil Index ETF

XBZ

12.458774

0.00

%

iShares Canadian Corporate Bond Index ETF

XCB

21.329006

0.15

%

iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged)

XCD

28.320355

0.00

%

iShares Canadian Growth Index ETF

XCG

28.664410

0.00

%

iShares China Index ETF

XCH

23.522663

0.00

%

iShares Conservative Core Portfolio Builder Fund

XCR

23.381281

0.00

%

iShares S&P/TSX SmallCap Index ETF

XCS

15.871884

0.00

%

iShares Canadian Value Index ETF

XCV

24.405478

0.79

%

iShares Canadian Select Dividend Index ETF

XDV

23.464415

0.00

%

iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged)

XEB

20.944153

0.00

%

iShares Core MSCI Emerging Markets IMI Index ETF

XEC

22.363732

0.00

%

iShares Core MSCI EAFE IMI Index ETF

XEF

26.027020

0.16

%

iShares S&P/TSX Capped Energy Index ETF

XEG

13.327743

0.00

%

iShares MSCI Europe IMI Index ETF (CAD-Hedged)

XEH

20.830012

0.00

%

iShares Core S&P/TSX Composite High Dividend Index ETF

XEI

20.369930

0.00

%

iShares MSCI Emerging Markets Index ETF

XEM

26.573603

0.00

%

iShares Jantzi Social Index ETF

XEN

22.217905

0.00

%

iShares MSCI Europe IMI Index ETF

XEU

20.206477

0.00

%

iShares Edge MSCI Multifactor USA Index ETF (CAD-Hedged)

XFA

22.418807

1.00

%

iShares Edge MSCI Multifactor Canada Index ETF

XFC

21.706313

0.00

%

iShares Edge MSCI Multifactor EAFE Index ETF (CAD-Hedged)

XFF

21.066600

0.22

%

iShares Core MSCI EAFE IMI Index ETF (CAD-Hedged)

XFH

19.244805

0.00

%

iShares Edge MSCI Multifactor EAFE Index ETF

XFI

20.129281

0.10

%

iShares S&P/TSX Capped Financials Index ETF

XFN

33.505564

0.00

%

iShares Floating Rate Index ETF

XFR

20.079924

0.00

%

iShares Edge MSCI Multifactor USA Index ETF

XFS

22.466439

0.45

%

iShares Canadian Government Bond Index ETF

XGB

21.876033

0.24

%

iShares Global Completion Portfolio Builder Fund

XGC

29.184257

0.00

%

iShares S&P/TSX Global Gold Index ETF

XGD

12.511654

0.00

%

iShares S&P Global Industrials Index ETF (CAD-Hedged)

XGI

27.390314

0.00

%

iShares Growth Core Portfolio Builder Fund

XGR

27.351466

0.00

%

iShares Canadian HYBrid Corporate Bond Index ETF

XHB

20.534452

0.00

%

iShares Global Healthcare Index ETF (CAD-Hedged)

XHC

38.952639

0.00

%

iShares U.S. High Dividend Equity Index ETF (CAD-Hedged)

XHD

25.970104

3.85

%

iShares U.S. High Dividend Equity Index ETF

XHU

22.061575

0.45

%

iShares U.S. High Yield Bond Index ETF (CAD-Hedged)

XHY

19.474562

0.00

%

iShares Core S&P/TSX Capped Composite Index ETF

XIC

23.415878

0.00

%

iShares India Index ETF

XID

28.818971

0.00

%

iShares U.S. IG Corporate Bond Index ETF (CAD-Hedged)

XIG

23.121421

0.00

%

iShares MSCI EAFE® Index ETF (CAD-Hedged)

XIN

22.464011

0.00

%

iShares S&P/TSX Capped Information Technology Index ETF

XIT

13.459860

0.00

%

iShares S&P/TSX 60 Index ETF

XIU

21.932206

1.25

%

iShares Core Canadian Long Term Bond Index ETF

XLB

23.691180

0.33

%

iShares S&P/TSX Capped Materials Index ETF

XMA

12.871237

0.00

%

iShares S&P U.S. Mid-Cap Index ETF

XMC

16.519724

0.00

%

iShares S&P/TSX Completion Index ETF

XMD

23.687335

0.00

%

iShares S&P U.S. Mid-Cap Index ETF (CAD-Hedged)

XMH

15.913273

1.83

%

iShares Edge MSCI Min Vol EAFE Index ETF

XMI

32.255412

0.11

%

iShares Edge MSCI Min Vol EAFE Index ETF (CAD-Hedged)

XML

19.986656

0.00

%

iShares Edge MSCI Min Vol Emerging Markets Index ETF

XMM

24.495206

0.00

%

iShares Edge MSCI Min Vol USA Index ETF (CAD-Hedged)

XMS

20.130344

0.00

%

iShares Edge MSCI Min Vol USA Index ETF

XMU

40.534085

1.56

%

iShares Edge MSCI Min Vol Canada Index ETF

XMV

27.497676

0.00

%

iShares Edge MSCI Min Vol Global Index ETF

XMW

34.999273

0.26

%

iShares Edge MSCI Min Vol Global Index ETF (CAD-Hedged)

XMY

20.067553

0.00

%

iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged)

XPF

17.326502

0.00

%

iShares Core High Quality Canadian Bond Index ETF

XQB

20.828386

0.08

%

XQB.A

20.739460

0.08

%

iShares NASDAQ 100 Index ETF (CAD-Hedged)

XQQ

39.312408

1.87

%

iShares Canadian Real Return Bond Index ETF

XRB

25.016345

0.16

%

iShares S&P/TSX Capped REIT Index ETF

XRE

15.025448

0.00

%

iShares Canadian Short Term Bond Index ETF

XSB

28.209349

0.00

%

iShares Conservative Short Term Strategic Fixed Income ETF

XSC

19.912707

0.28

%

iShares Conservative Strategic Fixed Income ETF

XSE

20.078862

0.32

%

iShares Core Canadian Short Term Corporate + Maple Bond Index ETF

XSH

19.594588

0.00

%

iShares Short Term Strategic Fixed Income ETF

XSI

19.167113

0.00

%

iShares Core S&P 500 Index ETF (CAD-Hedged)

XSP

25.078475

0.10

%

iShares Core Short Term High Quality Canadian Bond Index ETF

XSQ

19.856772

0.00

%

iShares S&P/TSX Capped Consumer Staples Index ETF

XST

51.688866

1.73

%

iShares U.S. Small Cap Index ETF (CAD-Hedged)

XSU

28.009827

0.37

%

iShares Diversified Monthly Income ETF

XTR

11.117806

0.00

%

iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged)

XUH

20.746250

0.00

%

iShares Core S&P 500 Index ETF

XUS

36.826163

0.16

%

iShares S&P/TSX Capped Utilities Index ETF

XUT

20.656937

0.00

%

iShares Core S&P U.S. Total Market Index ETF

XUU

22.812050

0.20

%

iShares MSCI World Index ETF

XWD

42.143417

0.37

%

Reasons for some of the larger estimated annual reinvested capital gains distributions are as follows:

CIE

The iShares International Fundamental Index ETF ("CIE") experienced capital gains in 2016 as a result of the appreciation of securities held in its portfolio, which were sold in connection with portfolio rebalancing. Some of the larger components of the gains were realized on the disposition of shares in Nippon Telegraph & Telephone, Nestle S.A., and SABMiller Plc, which was acquired by AB InBev.

CLU

The iShares US Fundamental Index ETF experienced capital gains in 2016 as a result of the appreciation of securities held in its portfolio, which were sold in connection with portfolio rebalancing. Some of the larger components of the gains were realized on the disposition of shares in General Electric Co., Microsoft Corp., and AT&T Inc.

COW

The iShares Global Agriculture Index ETF ("COW") experienced capital gains in 2016 as a result of the appreciation of securities held in its portfolio, which were sold in connection with portfolio rebalancing. Some of the larger components of the gains were realized on the disposition of shares in MGP Ingredients Inc., Ingredion Inc., and Tyson Foods Inc.

CUD

The iShares US Dividend Growers Index ETF (CAD-Hedged) ("CUD") experienced capital gains primarily as a result of the appreciation of securities held in its portfolio, with gains realized on the sale of certain securities, such as Piedmont Natural Gas Co., National Retail Properties, and Questar Corp, in connection with index rebalances. A small portion of capital gains can also be attributed to realized gains on foreign currency hedging instruments.

XHD

The iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) ("XHD") experienced capital gains in 2016 primarily due to the appreciation of securities held in the portfolio, and realized on the sale of securities in connection with index rebalances. Some of the larger components of the gains were realized on the disposition of shares in AT&T Inc. and Altria Group Inc. Realized gains on foreign currency hedging instruments also contributed to the total gain.

This notice contains forward-looking statements with respect to the annual reinvested capital gains distributions for the iShares Funds. By their nature, these forward-looking statements involve risks and uncertainties that could cause the actual distributions to differ materially from the estimated distributions set forth in this notice. Factors that could cause the actual distributions to differ from the estimated distributions between now and December 15, 2016 (the iShares Funds' tax year end) include, but are not limited to: the actual amounts of distributions received by the iShares Funds; the actual amounts of capital gains generated from sales of securities; trading activity within the iShares Funds, including buying and selling of securities; index changes which cause rebalancing within the iShares Funds; and subscription and redemption activity.

About BlackRock

BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. At September 30, 2016, BlackRock's AUM was US$5.1 trillion. BlackRock helps clients around the world meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. As of September 30, 2016, the firm had approximately 13,000 employees in 30 countries and a major presence in global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com/ca - Twitter: @BlackRockCA - Blog: www.blackrockblog.com/can.

About iShares ETFs

iShares® is a global leader in exchange-traded funds (ETFs), with more than a decade of expertise and commitment to individual and institutional investors of all sizes. With over 700 funds globally across multiple asset classes and strategies and more than US$1 trillion in assets under management as of September 30, 2016, iShares helps clients around the world build the core of their portfolios, meet specific investment goals and implement market views. iShares funds are powered by the expert portfolio and risk management of BlackRock, trusted to manage more money than any other investment firm.(1)

Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. Please read the relevant prospectus before investing. The funds are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.